China’s autonomous vehicle startup WeRide got a $310 million infusion of capital from investors, including the National Investment Fund and Alliance Ventures — the investment arm of Renault-Nissan-Mitsubishi (RNM) — adding to WeRide’s Series C funding round, according to a press release.
WeRide has raised over $600 million in the past five months, bringing its valuation to $3.3 billion, the release stated. WeRide is targeting the car sector’s level 4 autonomous standard, which means the vehicle can drive under most conditions without human input.
Previous investors in the round include General Capital (a subsidiary of China Development Bank Equipment Fund), IDG Capital, Homeric Capital, CoStone Capital, Cypress Star, Sky9 Capital, K3 Ventures, CMC Capital Partners, Qiming Venture Partners, Alpview Capital and others.
WeRide has so far accumulated over 5 million kilometers (3.1 million miles) of autonomous driving and is planning to advance its driverless Robotaxi and Mini Robobus, according to the release.